Bank of America Corporation $BAC Position Raised by Perryman Financial Advisory Inc. AD

Perryman Financial Advisory Inc. AD grew its position in shares of Bank of America Corporation (NYSE:BAC) by 29.0% in the third quarter, HoldingsChannel reports. The fund owned 225,165 shares of the financial services provider’s stock after acquiring an additional 50,620 shares during the period. Bank of America makes up 1.6% of Perryman Financial Advisory Inc. AD’s portfolio, making the stock its 13th largest position. Perryman Financial Advisory Inc. AD’s holdings in Bank of America were worth $12,256,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Total Clarity Wealth Management Inc. raised its holdings in shares of Bank of America by 3.6% in the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 168 shares during the last quarter. Orca Wealth Management LLC boosted its holdings in Bank of America by 0.5% during the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 179 shares during the last quarter. Financial Consulate Inc. boosted its holdings in Bank of America by 4.0% during the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 181 shares during the last quarter. Bedel Financial Consulting Inc. boosted its holdings in Bank of America by 1.1% during the second quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC grew its position in Bank of America by 3.6% in the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 190 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Key Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
• Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
• Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
• Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
• Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

Analyst Ratings Changes

Several brokerages have issued reports on BAC. Barclays lowered their price target on shares of Bank of America from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Argus set a $70.00 price objective on shares of Bank of America in a research note on Wednesday, July 15th. Morgan Stanley decreased their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada decreased their price objective on Bank of America from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday. Twenty analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $62.52.

Bank of America Stock Down 0.8%

Shares of Bank of America stock traded down $0.42 on Friday, reaching $51.28. 64,306,447 shares of the company were exchanged, compared to its average volume of 41,999,672. The company has a market capitalization of $358.59 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.84 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The company has a 50-day moving average of $59.05 and a 200 day moving average of $56.69.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The firm had revenue of $29.96 billion during the quarter, compared to the consensus estimate of $30.58 billion. During the same period in the prior year, the business posted $1.06 earnings per share. Bank of America’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Corporation will post 4.57 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.5%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s payout ratio is currently 29.36%.

About Bank of America

Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.